Values, people and cash generation key anchors in business, says Birla

Strong values that focus on people, long-term vision, working in scale, and right economics that generates cashthese are core principles that have driven the $65 billion Aditya Birla Group's success, the conglomerate's chief Kumar Mangalam Birla said on Saturday.

In a conversation with HT's editor-inchief R Sukumar during the 22nd Hindustan Times Leadership Summit, Birla outlined the mantras of longevity that have sustained a group that has been in business since the late 19th century.

"A company is not just a repository [of wealth] it's much more than that. It's a repository of people's trust, the trust of shareholders, customers, suppliers. So, I think trust and values are very important," said Birla.

Birla, who took the reins of the company at the age of 28, touched upon a number of crucial cultural anchors, including the "socioeconomic concept" embraced by his grandfather GD Birla that emphasised on companies being "not just emblems of capitalism but also institutions of collective prosperity", and a fundamental "no shortcuts" principle that he said he learnt from his previous generation and passes on to his children.

But to summarise the most crucial aspects of the business culture, Birla cited four main anchors: values, people, scale, thinking long-term, unit economics and cash generation.